Barclays PLC Has $790,000 Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

Barclays PLC increased its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 44.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,486 shares of the company’s stock after buying an additional 11,489 shares during the period. Barclays PLC owned 0.18% of Mayville Engineering worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Mayville Engineering by 5.4% in the third quarter. Geode Capital Management LLC now owns 277,679 shares of the company’s stock valued at $5,855,000 after buying an additional 14,118 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Mayville Engineering by 95.8% in the third quarter. Public Employees Retirement System of Ohio now owns 12,470 shares of the company’s stock valued at $263,000 after buying an additional 6,100 shares in the last quarter. Jane Street Group LLC raised its position in shares of Mayville Engineering by 25.7% in the third quarter. Jane Street Group LLC now owns 14,235 shares of the company’s stock valued at $300,000 after buying an additional 2,909 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Mayville Engineering in the third quarter valued at approximately $95,000. Finally, Jacobs Levy Equity Management Inc. raised its position in Mayville Engineering by 91.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 122,055 shares of the company’s stock valued at $2,573,000 after purchasing an additional 58,242 shares in the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on MEC shares. Northland Securities downgraded shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $20.00 in a research report on Thursday, November 7th. Northland Capmk downgraded shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In related news, CEO Jagadeesh A. Reddy bought 5,903 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were purchased at an average price of $16.72 per share, with a total value of $98,698.16. Following the completion of the purchase, the chief executive officer now owns 89,052 shares in the company, valued at $1,488,949.44. This represents a 7.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.40% of the company’s stock.

Mayville Engineering Stock Up 1.8 %

Shares of MEC opened at $15.34 on Thursday. Mayville Engineering Company, Inc. has a one year low of $11.07 and a one year high of $23.02. The company has a market cap of $316.68 million, a P/E ratio of 26.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $16.35 and a two-hundred day simple moving average of $18.21.

Mayville Engineering (NYSE:MEC) last posted its earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.39 million for the quarter, compared to the consensus estimate of $157.22 million. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. During the same period in the previous year, the firm posted $0.21 EPS. Research analysts forecast that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.